Milestone Bank Expands Services with New Asset-Based Lending Division for Businesses

Milestone Bank Launches Asset-Based Lending Division

Milestone Bank, a prominent player in the fields of equipment finance and SBA lending, has recently made a significant move to enhance its service portfolio. As of February 3, 2026, the bank announced the launch of its new Asset-Based Lending (ABL) division, which aims to support small and mid-sized businesses across the nation.

This new offering provides flexible revolving lines of credit, primarily secured by accounts receivable and inventory. The flexibility is crucial for manufacturers, distributors, production companies, and various other B2B entities that often face cash-flow challenges. With this initiative, Milestone Bank is establishing itself as a more comprehensive partner for businesses looking to bridge financial gaps and stimulate growth.

To spearhead this division, Daniel Godfrey has been appointed as the Senior Vice President of Asset-Based Lending. Godfrey brings with him 23 years of specialized experience in ABL, including an impressive 18 years with Celtic Bank. His background in both conventional ABL and government-guaranteed lending programs, like SBA CAPLines, positions him well to lead this new venture.

"Milestone has built an exceptional national platform in equipment and SBA financing," Godfrey stated, expressing enthusiasm about broadening the bank's offerings. He emphasized the importance of providing customized ABL solutions that combine traditional lending structures with SBA enhancements, ensuring businesses have access to flexible working capital without compromising risk management.

A common misunderstanding surrounding ABL pertains to its perceived risks. Many lenders focus solely on traditional cash-flow models and real property collateral, often overlooking the security that properly structured ABL facilities provide. In reality, these facilities are amongst the safest forms of commercial lending due to the rigorous continuous oversight on collateral and strict controls. Milestone's ABL program double-downs on this security by implementing robust receivables oversight, real-time monitoring of working assets, and, where applicable, the added assurance of an SBA guarantee or similar credit enhancements.

The introduction of ABL marks a significant milestone for Milestone Bank. It not only allows the bank to diversify its services but also reinforces its commitment to helping businesses thrive in a competitive environment. Mark Yung, the President and CEO of Milestone Bank, remarked that the launch of ABL is a natural progression for the bank and speaks volumes about its evolved approach to financing. He noted that adding such offerings strengthens their ability to cater to various operational needs, whether companies require equipment financing, long-term capital, or immediate liquidity solutions.

The financial services landscape is evolving, and Milestone Bank is keen on maintaining its competitive edge while fostering an environment where small and mid-sized businesses can thrive. For businesses looking for more information or to inquire about ABL financing, interested parties can reach out via email or contact Mr. Godfrey directly.

Overall, the launch of the Asset-Based Lending division positions Milestone Bank as a more versatile financial partner and reflects its continued strategic growth in the lending market over the past several years.

For additional inquiries, the PR contact at Milestone Bank is Kristin Saracevic, the Vice President of Human Resources, reachable at 248-743-5144.